China Economic Review Jan.29--China Economic Net

China Economic Review Jan.29Last Updated: 2022-01-29 17:21 |CE.cnSavePrintE-mailOpinion 1. A promising future for science and technology-based SMEs With high technology content, many science and technology-based SMEs master the core technology of industry, which is an important support for the high-quality development of China's economy. By the end of the "14th Five-Year Plan", China will form an institutional system and create an environment to support the R&D of small and medium-sized science and technology-based enterprises. The number of science and technology-based SMEs will be increased by 200,000. 2. Pressure of demand contraction effectively resolved To resolve the pressure of demand contraction, the key is to maintain stability and seek steady progress, especially to actively introduce policies that are conducive to economic stability. It is necessary to make good use ofpolicy tools of investment and consumption, better play the fundamental role of consumption in economic development, and strengthen the key role of investment in optimizing supply structure. Policy 1. The 14th Five-Year Comprehensive Work Plan for Energy Conservation and Emission Reduction issued by the State Council clarifies that by 2025, China's energy consumption per unit of GDP will drop by 13.5% compared with 2020, and the total energy consumption will be reasonably controlled. 2. The 14th Five-Year Plan for the Construction of Modern Circulation System was officially announced. During the 14th Five-Year Plan period, China will focus on fixing the shortcomings of the modern circulation system and developing the two major systems of modern commercial circulation and modern logistics. Data 1. According to data from the Ministry of Commerce, in 2021, China’s actual use of foreign capital exceeded RMB one trillion for the first time, reaching 1.1 trillion yuan, an increase of 14.9%, and 48,000 new foreign-funded enterprises was established, an increase of 23.5%. 2. The ratio of China’s R&D expenditure to GDP reached 2.44%, an increase of 0.03 percentage point, as data from the National Bureau of Statistics showed.3. National Energy Administration announced that the newly installed capacity of wind power and photovoltaic power generation in China exceeded 100 million kilowatts in 2021. 4. According to the Ministry of Finance, revenue in China’s general public budget reached RMB 20.25 trillion, a year-on-year increase of 10.7%; and expenditures in China’s general public budget reached RMB 24.63 trillion, up 0.3% on a yearly basis.5. From January to November 2021, the operating income and total profit of China’s small and medium-sized industrial enterprises above designated scale were increased by 20.7% and 28.2% respectively, as data released by the Ministry of Industry and Information Technology showed.6. According to the General Administration of Customs, China’s customs tax collection crossed the RMB-2-trillion threshold for the first time, reaching RMB 2012.63 billion, with an increase of 17.7% in 2021. 7. In 2021, the total amount of social logistics in China is expected to maintain above RMB 300 trillion, and the business environment of the industry continued to improve, according to the China Federation of Logistics and Purchasing. 8. The data from the All-China Federation of Supply and Marketing Cooperatives showed that in 2021, the whole system of China’s supply and marketing cooperatives achieved a total sales of RMB 6.26 trillion, a year-on-year increase of 18.9%. 9. According to the State Administration of Foreign Exchange, as of the end of 2021, China’s foreign exchange reserves stood at USD 3250.2 billion, up 1.0% from the end of 2020, and the foreign exchange reserves remained basically stable.10. A total of 3.521 million new-energy cars were sold in 2021, and the number of new-energy cars registered in China reached 7.84 million, accounting for 2.6% of total cars in China. Carbon emissions could be reduced about 15 millions tons per year.(Information Source: Economic Daily)

（Editor:Fu Bo）